๐๐ฐ๐ผ๐ป๐ผ๐บ๐ถ๐ฐ ๐๐ฟ๐ผ๐๐๐ต ๐๐ฎ๐น๐น๐ ๐๐ผ ๐ฎ.๐ญ%
Australia's economy continues to expand, but the rate of growth is slowing, according to new data from the Australian Bureau of Statistics.
Growth over the last four quarters has been:
* Sep-22 = 0.7%
* Dec-22 = 0.7%
* Mar-23 = 0.4%
* Jun-23 = 0.4%
Due to the slowdown โ which has been triggered by rising interest rates โ the annual rate of economic growth fell from 3.1% in the 2021-22 financial year to 2.1% in 2022-23.
A slowing economy tends to lead to higher unemployment. The Reserve Bank has forecast that unemployment, which is currently at 3.7%, will rise to 4.4% by the end of the 2024 calendar year.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
